Paraguay is renowned as the land of opportunities and is often referred to as the heart of America. It is a landlocked state bordering Brazil, Argentina, and Bolivia. Paraguay has a population of about 6.8 million. 60% of the population lives in the state’s two metropolitan areas: Asuncion, Paraguay’s capital city and the Ciudad Del Este city. The country has no restrictions for those interested to work and settle there. It has low taxation systems and affordable standards of living. It is the largest aquifer on earth and is renowned for its fertile soils.
If you are interested in Paraguay immigration, applying for a permanent residence permit is inevitable. You will start this process by depositing an amount equivalent to 35 minimum monthly wages. This totals to about PYG2,554,600 or $4,500. The amount can be deposited in the Paraguayan central bank or any commercial bank. Once granted residence, withdrawing your deposit in full is under your discretion. However, an individual may decide to purchase a ten hectares land or set a company worth the minimum deposit amount.
According to the Paraguay National Constitution, after three years of permanent residence, individuals become Paraguayan citizens by naturalization. As such, individuals must demonstrate given ties to the state, such as owning a company, real estate, and regularly exercising their professions. Besides, immigrants are expected to have a basic understanding and knowledge of Spanish history, politics, and geography. It is recommendable to have bank references given by first-class banks and certified degree copies.
Paraguay Immigration Requirements
-Company incorporation and share capital certification documents
-Economic solvency statement. This statement is approved by a bank deposit deposited in a savings account in your name.
-Real estate property ownership
-Health certification from an immigrant mother country
-Clean court and police records of immigrant mother country Interpol certification issued by the regional office in Asuncion in Paraguay
-Consular tourist visa
-Affidavit that serves as a confirmation that the applicant is a law-abiding citizen
-Paraguay national police and identification department give documents
-Residence and life certificate provided by the jurisdictional police station
-Legal entry proof issue by immigration authorities in Paraguay
Mandatory Immigrant Required Documents
-Original and photocopied passports
-Original medical certificate
-Original police clearance certificate
-Certified or original marriage copy certificate
-Original bank reference letter, which is not more than six months old
-Notarized affidavit that serves as a confirmation of law compliance
-Residential address evidence
-Six passports sized photos
The highlighted requirements are inevitable, and they are absolutely necessary to facilitate a successful Paraguay Immigration process.